Current status and potential development of arctic shipping : the effect of arctic shipping on Singapore offshore industry

Author

Song, Yu

Date of Issue

2017

School

School of Civil and Environmental Engineering

Abstract

With the effect of global warming, the interests on Arctic has been increased to a new level. Discussions on feasibility and effect of Arctic shipping have been conducted extensively, by research institutes and business entities. However, there is a lack of comprehensive analysis and discussion for the possible effects from the developments of Arctic shipping on Singapore. The target of this project is Singapore offshore industry, since the offshore industry plays an important role in the Singapore economy.
The project hence reviewed the past literatures, on the topic of, the current status and feasibility of Arctic shipping, the geopolitics and the geo-economics of Arctic region, and the Singapore’s interest on Arctic.
It would be relative inaccurate and unpredictable to discuss the possible effects based on the event purely. The logic flow of this project was aiming to analyse the strengths and weaknesses of Singapore offshore industry first. Therefore, the project modified the famous analytical framework, the Diamond Model from Professor Michael Porter, to analyse the competitiveness of Singapore offshore industry, from the aspects of “Change/Chance”, “Factor Conditions”, “Industry Strategy”, “Related and Supporting Industry”, “International Competitors”, and “Government”. Hence, to deduce the possible effects from Arctic developments on the industry.
The project concluded Singapore offshore industry had the relative competitive advantages in the global offshore industry, regard to Arctic. Therefore, the development of Arctic region would rather be an opportunity, than a threat to Singapore offshore industry.